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Letter: Social Security

Editor, Gazette-Journal: Candidates’ stands on issues should guide citizens on the upcoming elections. Let’s look at Social Security. Currently, people who earn more than the Social Security cap of $168,000 do NOT pay any taxes on the money they earn over this cap. You ask, what’s the big deal? The big deal is a person such as a CEO who earns $20 million annually pays taxes on 1 percent of their income while a worker earning below the cap pays Social Security taxes on 100 percent of their income. They both end up paying the same amount of money into the programs. This is unfair and not equitable! In fact, this inequality issue costs the Social Security Trust Fund reserve an estimated $1.4 trillion since 1983. One plan the Democrats propose is to ask Congress to eliminate the cap on earnings over $250,000 and require investment income to pay Social Security taxes. This plan would guarantee Social Security solvency for the next 75 years without raising taxes on 93 percent of American hou...

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